5 Best Performing Semiconductor Stocks So Far in 2026

3. Wolfspeed Inc. (NYSE:WOLF)

Year-to-Date Performance: 256.86%

Wolfspeed Inc. (NYSE:WOLF) is one of the best performing semiconductor stocks so far in 2026. On May 5, Wolfspeed reported FQ3 2026 consolidated revenue of ~$150 million, hitting the midpoint of its guidance range. The company recorded a GAAP gross margin of negative 27% and a non-GAAP gross margin of negative 21%, leading to a GAAP net loss of $120 million and an adjusted EBITDA of negative $62 million. Operating cash flow stood at negative $84 million.

To improve its financial flexibility, the company refinanced ~$476 million of first-lien debt. This strategic move reduced Wolfspeed’s total debt balance by $97 million and is projected to lower annual interest expenses by an estimated $62 million. Backed by $1.2 billion in cash, cash equivalents, and short-term investments, the company also boosted its equity position by over $400 million, aided by CFIUS clearance and an equity issuance to Renesas.

Operationally, Wolfspeed Inc. (NYSE:WOLF) secured 30% sequential growth in AI data center applications and pivoted its Durham facilities entirely to materials production. The company launched its next-generation TOLT portfolio and introduced the first commercially available 10 kV silicon carbide power MOSFET for grid and data center infrastructure. For FQ4, management expects revenue between $140 and $160 million, with flat operating expenses and remaining negative gross margins.

Wolfspeed Inc. (NYSE:WOLF) is an American company that develops and manufactures wide-bandgap semiconductors. The company focuses on silicon carbide materials and power devices for various applications such as electric vehicles, fast charging, and renewable energy and storage.